Obsidian Energy (TSE:OBE) has released an update.
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Obsidian Energy has reported robust results from their Peace River operations, leading to an increased average production of around 40,000 barrels of oil equivalent per day (boe/d) and a revision of their 2024 production guidance to a higher midpoint of 36,700 boe/d. These positive developments have been driven by the stronger-than-expected performance of their light oil and heavy oil assets, particularly in the Peace River area, where the company has recently placed several wells into production.
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